Compound Interest Calculator
CD 4-year Account from Wayne Bank with 0.70% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 4-year Account from Wayne Bank with 0.70% APY and $10,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $21,445. The interest earned would be $1,445 and the tax amount on the interest earned would be approximately $433.

Please note that this product is available in Pennsylvania and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Wayne Bank

Savings Boost of
$-168 over 10 years
Cash Savings $20,000
Average Interest Earned $1,179

 
Wayne Bank Interest Earned $1,011

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.81%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 162 114
2 20,162 164 115
3 20,326 165 116
4 20,491 166 116
5 20,658 168 117
6 20,825 169 118
7 20,994 170 119
8 21,165 172 120
9 21,337 173 121
10 21,510 175 122
TOTAL: $1,685 $1,179

Wayne Bank Scenario

Rate:
0.70%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 140 98
2 20,140 141 99
3 20,281 142 99
4 20,423 143 100
5 20,566 144 101
6 20,710 145 101
7 20,855 146 102
8 21,001 147 103
9 21,148 148 104
10 21,296 149 104
TOTAL: $1,445 $1,011

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.



Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.

Last change: ↓0.10% on October 1.



Customer Reviews for Wayne Bank


  • January 26, 2024 |

    I have been with Wayne Bank for almost 3 years after moving all of my accounts from Hells Fargo.

    Since then, I have had so many problems with depositing checks with my iPhone. (phone upgraded twice since I opened the account, so it is NOT the phone)

    Sometimes the checks go through without a problem, but very often I get the message that “the endorsement could not be found” and I should retake. Sometimes I have to retake the pictures 12-20 times over the course of a few days before the check is accepted.

    I generally use a dark background, and my endorsement stamp has 5 lines of VERY dark black ink, but the app still says it cannot “see” the endorsement. That is insane.

    Sometimes I have to change to a neutral or white background to get the check to be accepted, but even that has not always worked, and I have had times when I received an email saying the check was rejected and I need to use a dark background.

    Eventually, I wind up driving to the bank.

    I have called customer service several times, and they always run through the same questions, but there is never any solution. They seem dumbfounded, which I believe they are.

    Can you please give me suggestions or admit your system is screwed up.

    I am about to change banks again over this issue.


Add Your Review


or use your BestCashCow account

or